Generally speaking, it is never the numbers or figures that make the equities transaction market work but the people involved in the market make it work. Market makers are high networth folks who can put their resources together and push-up the capital market. Stock markets are not non-profit organizations staffed by social workers paid by the government to provide a public service. Brokers, specialists, and market makers don’t participate in the markets for their health. They trade only when they expect to make profits. Those profits are the price that investors and other traders pay in order to execute their orders when they want to trade. 

Fresh indications  emerged last week that the appointed market makers as approved by the Securities and Exchange Commission (SEC) on the nation’s capital market may no longer commence operation this December, 2011 as earlier scheduled.

Poker has surged in popularity over the last decade and it’s not just poker fans who have benefited, with many countries around the world cashing in on the poker boom as well. Some countries such as France, Italy, and Spain have chosen for the government to play a key role in taxing and regulating Internet poker sites, while other countries such as Malta have positioned themselves as a defacto poker guide when it comes to offering licenses for online operators. Still other countries have benefited economically by hosting international poker tournaments that draw thousands of players.

Flour Mills of Nigeria has forecasted a zero importation of cement by the year 2013 through United Cement (Unicem), a joint venture with Holcim and Lafarge.

A Nigerian man boarded a Virgin America airplane last week with an invalid boarding pass — making it through a federal security checkpoint where travelers must show identification and their boarding passes.
After the man, Olajide Oluwaseun Noibi, got through security, the airline let him onto the plane even though his boarding pass was for a flight the day before, according to the FBI.

Mr. Johnson Chukwu, managing director and chief executive officer of Cowry Asset Management Limited, has persuaded the general public not to panic at the intended plan to demutualise the Nigerian Stock Exchange (NSE), claiming that the move was for the advantage of all stakeholders of the capital market.

Dr. Justus Uranta, CEO, Niger Insurance Plc and Mr. Tony Ojeme, head, corporate affairs, at the Niger Insurance press briefing in Lagos, Nigeria.

There are strong indications that the acquisition deal entered into by AfribankNigeria Plc and Vine Capital Group may have been aborted as the two parties failed to make progress to the next stage of the relationship which is recognised as the only legal backbone to the multibillion naira deal.

Last week, the Federal Executive Council (Fec) directed all federal ministries, departments and agencies (MDAs) to ensure that locally-produced and assembled goods are henceforth given first priority in all their procurements, especially procurements relating to vehicles and their spare parts.
The Fec also directed the Office of the National Economic Adviser to conduct a comprehensive review of tariffs to ensure protection and promotion of local industries.